The hike in the prices of the petroleum products has been made to meet the levy target agreed with the International Monetary Fund (IMF).
ISLAMABAD: (UrduPoint/Pakistan Point News-January 1st, 2022 The federal government on the eve of the new year announced yet another increase in the prices of petroleum products.
The price of petrol and high-speed diesel will rise by Rs 4 rupee per litre for the first 15 days of January 2022, according to a notification issued by the Finance Division on Friday. The price of kerosene has been increased by Rs3.95, and light diesel oil (LDO) by Rs4.15 per litre.
The hike in the prices of the petroleum products came to meet the petroleum levy target agreed with International Monetary Fund (IMF).
Following the hike, the price of petrol will go up from the previous Rs140.82 per litre to Rs144.82 per litre, while the price of high speed diesel will jump to Rs141.62 per litre from the previous Rs137.62 per litre.
According to the notification, the prime minister had rejected the proposal of the Oil and Gas Regulatory Authority (OGRA) for an increase in prices of petroleum products and advised to increase only Rs4 per litre to meet the petroleum levy target agreed with the IMF.